Special Needs Answers
I'm on Medicaid and SSI. I'll be receiving a financial inheritance within the next year or less. Can I deposit my own inheritance in a Third-Party Special Needs Trust and spend it on myself? I really need to be able...
Read moreI'm receiving SSDI. I'm on Medicaid. Can a special needs trust rent an apartment? Can a special needs trust be a co-tenant on a lease?...
Read moreMy daughter lives in HUD-supported housing, and her rent is 30% of her income. It appears that in 2024 distributions from SNTs will count as income, except for distributions of trust principal or when used to pay for health and medical care expenses...
Read moreI'm the trustee of a special needs trust. If the beneficiary needs something purchased, am I allowed to buy it on my personal credit card and then have the trust reimburse me?...
Read moreMy trustee claims that I insulted him in an email, which I did not. I believe he does not want to have to file income taxes on a special needs trust and used this as an excuse to bow out of...
Read moreI have three children and one is an incapacitated adult child. I would like to prepare a will that leaves my house to the three children but puts one-third of the house in a special needs trust to benefit my...
Read moreDoes a gift of $14,000 this year to a special needs trust (SNT) qualify for the annual gift tax exclusion? ...
Read moreA divorced couple has separate special needs trusts (SNTs) for their two special needs adult children. The father has one trust for each beneficiary and the mother also has one trust for each beneficiary. The father does not want the...
Read moreYes, but be aware that a co-trustee can be held responsible for another co-trustee’s breach of a fiduciary duty. Thus, it is important that all co-trustees pay close attention to everything that is done in the administration of the trust.
Read moreAsk us a question and we'll respond if possible. We receive a large number of questions and are unable to answer every one. But if you don't hear back, many questions are best answered by a local special needs planner. To find a qualified special needs planner near you, click here.
